Plasma is preparing to launch Plasma 1 after that. Stablecoin The blockchain will hit the mainnet later this month. The card claims to offer 4% cashback on spending, yields of 10% or more, and international compensation.
Plasma One users can load selected silly coins (starting with USDT and slowly expanding) with cards and pay directly from this balance via physical or virtual cards. Prepaid credit cards are set up to use plasma Blockchain Payment Railways and is issued by Rain – the company behind the avalanche cards and more.
Plasma One card design (final decision). Image: Plasma.
“Stablecoins provide a basic and permitted way to keep and move dollars anywhere,” Plasma CEO Paul Faecks said in a shared release. Decryption. “Plasma 1 is our answer to the problem of distribution, as it places us directly in the hands of those facing financial exclusion and provides unauthorized access to savings, spending, earning and digital dollars.”
Last week it was announced that the Stablecoin-centric blockchain will be a hit on “Mainnet Beta” on September 25th. Plasma then prepares to deploy Neobank in multiple stages. Users can now sign up for WaitList on the Plasma website.
What is plasma?
Plasma is a Stablecoin project that is primarily known for building Layer-1 blockchains with tailored optimizations for Stablecoin users. Earlier this year, it sparked a stir by attracting $1 billion in advance of XPL's initial coin offering.
The company also raised $24 million in the Seed and Series A funding round, with support from Tether CEO Paolo Aldoino and PayPal co-founder Peter Thiel. Ardoino and Thiel are also advisors to the project.
Plasma One promises to offer zero fees with USDT transfers. This offers that the plasma blockchain is also trying to offer. Users also claim that there is no need for a lockup period and can claim 10% or more yields on the Stablecoin balance. A representative of Plasma said Decryption Yield is produced from the plasma defi Ecosystem.
For context, Plasma currently offers a 2% yield on Binance's USDT holdings. It was in high demand at its launch in August, and quickly attracted $1 billion worth of lockups. Of course, it is worth noting that a 10% yield is a key step up from this product.
The Plasma Team is keeping an eye on September 25th for the Mainnet Beta release. Later, the launch of its own Neobank makes it completely steam.
